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The buy-to-let sector and financial stability

Author

Listed:
  • Zemaityte, Gabija

    (Bank of England)

  • Hughes, Elle

    (Bank of England)

  • Blood, Katherine

    (Bank of England)

Abstract

This Bulletin reviews developments in the UK buy-to-let (BTL) market and analyses the channels through which the sector could present financial stability risks. We define the BTL sector as properties that are privately rented and owned with an outstanding mortgage. Some 19% of UK households are private renters, and about 45% of them live in a home with a BTL mortgage. Overall, the BTL market makes up a modest share of the UK’s housing stock – about 9% by number. But it represents a significant financial asset for many landlords and amounts to about £300 billion of outstanding mortgage debt concentrated in systemically important UK banks, equivalent to about 18% of the overall mortgage market.

Suggested Citation

  • Zemaityte, Gabija & Hughes, Elle & Blood, Katherine, 2023. "The buy-to-let sector and financial stability," Bank of England Quarterly Bulletin, Bank of England, vol. 63(1), pages 3-3.
    • Handle: RePEc:boe:qbullt:0270
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    File URL: https://www.bankofengland.co.uk/quarterly-bulletin/2023/2023/the-buy-to-let-sector-and-financial-stability
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